Pzena Investment Management LLC is a value-oriented investment manager that manages assets for a wide range of clients. The firm’s clients include institutions, high net worth individuals, and select third part mutual funds. Pzena Investment Management LLC submitted its SEC 13F filings for the quarter ended September 30, 2014, showing that its top three holdings are Hewlett-Packard Company (NYSE:HPQ), Bank of America Corp (NYSE:BAC), and Royal Dutch Shell plc (ADR) (NYSE:RDS.A).
The largest investment of Pzena Investment Management LLC was Hewlett-Packard Company (NYSE:HPQ) with investment totaling $739.06 million. Hewlett-Packard Company (NYSE:HPQ) is a Palo Alto-based information technology company that provides information technology services, computing hardware and software,, imaging and printing services, among other related technology services. Relational Investors held the highest number of shares of the company with a total of 27.02 million shares, coming ahead of the second placed Pzena Investment Management that had 20.84 million shares. (You can see complete list on hedge funds which hold positions on Hewlett-Packard Company (NYSE:HPQ) at the end of the third quarter).
Bank of America Corp (NYSE:BAC) was the second largest investment of the firm with investment valued at $539.64 million. Bank of America Corp (NYSE:BAC) is a multinational banking and financial services company, offering its services through its banking and non-banking subsidiaries. The company recently lowered its third profit for the third quarter 2014, as a result of what the company explained to be legal expenses relating to its foreign exchange activities. A few of the subsidiaries of Bank of America Corp (NYSE:BAC) are Santander Group, LaSalle Bank, Incapital, Merrill Lynch, and Standard Federal Bank.
The third largest investment of Pzena Investment Management LLC was Royal Dutch Shell plc (ADR) (NYSE:RDS.A), accounting for investment valued at $530.23 million. Royal Dutch Shell plc (ADR) (NYSE:RDS.A) is a multinational oil and gas company that explores, produces, and refines petroleum through its subsidiaries. The company also runs several gasoline filling stations located in different places across the globe. Royal Dutch Shell plc (ADR) (NYSE:RDS.A) has recently earned a consensus “buy” rating from seventeen firms that are currently covering the stock. The firms have given the stock a one year target price of $40.30.
This article has been written by Victor Ochieng.